Yes. The net P/L is reported. But for the cross trades (i.e. those not involving USD such as EUR.CHF) I first get my gross gain in CHF converted...
In some states you need a license to be a flower arranger. All in the name of protecting the public.
If it's a marketable order, snap your fingers and the order is filled.
Not true. Since cost basis for purchases before 1/1/11 and non-covered securities aren't reported, as in the past, the IRS won't be able to...
I use IB's year end summary as well to reconcile my +'s and -'s to USD to determine forex P/L that needs to be reported. Basically it's whatever...
I had no problem downloading and printing the 1099 from IB's website. Try retrieving it on another computer.
I had a subscription to the print Barron's until about a year ago. It was delivered by a carrier (i.e. not via USPS). Then one day I got a...
Unless something else has changed this year (I don't think so), wash sales don't change the total sales proceeds that you report. You subtract...
How is the reporting impacted by my adjusting the average price of a stock in TWS to match my own records? How does IB know which shares I sold...
I suppose there are better controls around ACH since there's a lag of a day or two between when the funds are first removed from an account and...
IB charges $30 for phone orders. See the "Misc" tab under Other Fees on their web site where it states, "Telephone orders are only allowed for...
Makes no sense that your state taxes would equal total revenue. But to answer your question . . . The amount in state taxes that you deduct on...
You can use up to $3000 of capital losses to offset other income on your U.S. tax return each year. If your net losses are greater than $3k, the...
That cash is in the securities account rather than the futures account and hasn't been sweep in from the futures account. So it's covered by SIPC...
I'm only familiar with IB so can't compare to others. But I find IB cheap rather than expensive. You pay a commission of 0.2 pips but the...
You'll need to do some research on "pattern day trading rule". If you're not a pattern day trader than I believe you're good to go immediately...
If the amount is very small, like a dollar, they will periodically convert it to your base currency without a commission charge. Otherwise, no....
A virtual fX position is just a trade management tool. It won't have any impact on account closure. In fact, you can wipe it out by right...
IB has a feature that allows you to estimate your earnings based on your current holdings. When I checked, the possible earnings were a pittance...
I'm not interested in weekend trading but wonder where the action is that results in updated quotes over the weekend. For example, AUD.USD closed...
Separate names with a comma.